The economy is still pretty sluggish. Many of us have a lot less money than we used to, so we're just not spending as much. But what about the people who do still have money, the so-called "1 percent."
In Washington this morning, President Obama invoked executive privilege for the first time in his presidency. His administration has refused to hand over documents in the 'Fast and Furious' gun smuggling operation, as a House committee moves to hold Attorney General Eric Holder in contempt of Congress.
Today's the first official day of summer, maybe you're going away soon. But maybe instead of a hotel, you're renting someone's home through a website like Airbnb, or HomeAway.com. But cities are now in an awkward position, they love the tourists these sites bring, but they don't pay hotel taxes, and that's turning out to be a problem as more an more apartments get turned into getaway pads.
The Hollywood skyline may be in for a makeover. The Los Angeles City Council voted unanimously yesterday to let developers to build taller buildings along Sunset and Vine Boulevard. The re-development plan includes high-rise apartment buildings up to 75 stories tall, and has been 6 years in the making.
| Alison van Diggelen, The California Report | The Madeleine Brand Show
Tesla Motors is set to release its new all-electric sedan this Friday. The Model S is billed as a slightly more affordable alternative to their ultra-sleek, but ultra-expensive electric sports car — the Tesla Roadster. But there's more riding on the success of this new sedan than just the fortunes of a single auto company.
| Sam Harnett, The California Report | The Madeleine Brand Show
You know those times you've lent money to family or friends? It might have helped your karma, but it never affected your credit score. Even though lending and borrowing from banks can boost your credit profile, person-to-person transactions have never been factored in.
But that could soon change. There's a non-profit in San Francisco's Mission District that's found a way to report these social loans to credit bureaus. Reporter Sam Harnett has the story.
A catchy summer song has a way of sticking with us, so we're looking into our crystal ball to see what will be playing in the background of Fourth of July barbecues and water balloon fights this year.
